Teligent, Inc. (TLGT) Shares Up 8.3%
Shares of Teligent, Inc. (NASDAQ:TLGT) shot up 8.3% during trading on Monday . The company traded as high as $7.29 and last traded at $7.27. 919,946 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 488,057 shares. The stock had previously closed at $6.71.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Teligent from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Canaccord Genuity restated a “buy” rating and issued a $11.00 target price on shares of Teligent in a report on Tuesday, August 8th. Roth Capital set a $9.00 target price on shares of Teligent and gave the stock a “buy” rating in a report on Wednesday, August 23rd. BidaskClub downgraded shares of Teligent from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $9.00 target price (up previously from $8.00) on shares of Teligent in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.00.
The stock’s market capitalization is $388.16 million. The company’s 50 day moving average price is $6.86 and its 200-day moving average price is $6.86.
Teligent (NASDAQ:TLGT) last released its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Teligent had a positive return on equity of 1.49% and a negative net margin of 11.36%. The company had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $20.11 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Teligent, Inc. will post $0.07 EPS for the current year.
Several large investors have recently bought and sold shares of TLGT. Janus Henderson Group PLC purchased a new stake in shares of Teligent during the second quarter valued at $51,431,000. Stifel Financial Corp purchased a new position in Teligent in the 2nd quarter worth $6,876,000. FMR LLC purchased a new position in Teligent in the 2nd quarter worth $6,543,000. Russell Investments Group Ltd. lifted its position in Teligent by 124.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock worth $9,544,000 after acquiring an additional 577,635 shares during the period. Finally, RK Capital Management LLC acquired a new stake in Teligent during the 2nd quarter worth about $4,581,000. Institutional investors and hedge funds own 66.00% of the company’s stock.
Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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